Energy data companies PGS and TGS have received competition clearance from Norwegian regulators related to their merger into a full-service energy data company.
The deal is still under review by the U.K. Competition Market Authority with a deadline of June 11 to announce clearance or further review for the deal.
The companies said in an April 17 press release that they continue to expect the merger to close during second-quarter 2024.
The transaction will establish the combined company as a full-service geophysical data company with offerings in streamer data acquisition, ocean bottom node data acquisition, imaging and new energy data, the companies said when the merger was announced in September.
The transaction is expected to help mitigate supply chain risks and add further to economies of scale and efficiency.
Recommended Reading
Petrobras Sending Nearly Half of Oil Exports to China
2024-04-30 - Conflict in the Middle East has enabled Brazil’s state-owned Petrobras to change the flow of its oil exports, with China being the primary beneficiary, followed by Europe.
E&P Highlights: April 29, 2024
2024-04-29 - Here’s a roundup of the latest E&P headlines, including a new contract award and drilling technology.
Kosmos Energy’s RBL Increased, Maturity Date Extended
2024-04-29 - Kosmos Energy’s reserve-based lending facility’s size has been increased by about 8% to $1.35 billion from $1.25 billion, with current commitments of approximately $1.2 billion.
Barnett & Beyond: Marathon, Oxy, Peers Testing Deeper Permian Zones
2024-04-29 - Marathon Oil, Occidental, Continental Resources and others are reaching under the Permian’s popular benches for new drilling locations. Analysts think there are areas of the basin where the Permian’s deeper zones can compete for capital.
TotalEnergies Starts Production at Akpo West Offshore Nigeria
2024-02-07 - Subsea tieback expected to add 14,000 bbl/d of condensate by mid-year, and up to 4 MMcm/d of gas by 2028.